"Value of the product" in PSPO context

Last post 09:22 pm November 27, 2017
by Jennifer Stekkinger
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03:17 pm November 13, 2017

I ran into several questions that ask what sources/individual to consider when maximising "value of the product".
Having studied "the scrum guide", "Scrum a Pocket Guide", this forum,  "The Professional Scrum Product Owner" and "EBMgt" I run into conflicting ideas.

The scrum guide talks a lot about value without actually defining it. 

  • The Professional Scrum Product Owner" tells met that "value" is ROI - TCO. In other words: One should consider all dimensions of value and offset them against all cost dimension. The resulting difference is value. 
  • Yet the Pocket guide tells me:  On the other hand "value" is the answer to business opportunities and the overall measure of progress and success. So only the ROI side without the cost. (Verheyen, Gunther. Scrum - A Pocket Guide (Best Practice (Van Haren Publishing)) (p. 23).

While I understand and can agree with both definitions I am very confused which of the two definitions I should use when answering PSPO questions. 
Anybody?

04:37 pm November 13, 2017

Value in Scrum is best thought of in a very general sense, and not necessarily as a financial measure. A charity might define value in terms of contribution to the social good, for example. Scrum is quite non-prescriptive about these things.

10:06 am November 23, 2017

That makes sense. Thank you Ian. 

09:44 am November 24, 2017

Thanks for the question Joost. I too ran into the same question on the exam unfortunately. I am studying to re-take the exam. Many of the answers given to us in the study materials are not black and white and differ slightly between text books. Close to one fourth of the questions on the exam are dealing with “Value.” All of the answers given to us in the reading and PO course seem vague. To make matters worse the multiple choice answers on the exam were vague as well. There is no real black and white question or answer. My question would be does anyone one know what I can read to better prepare for the “Value” questions on the exam?